Bank loans. On what terms?

Banks are institutions that have gained immense popularity. For some time they did not enjoy a good reputation, but currently, due to large companies that care about reputation, the way of thinking about them is changing.

For many people this is the only solution. Especially if our name was placed in the National Register of Debtors (KRD) or in the Credit Information Bureau (BIK), the possibilities that we have in terms of obtaining additional funds have been significantly reduced. In this situation, it will be easiest for us to get a loan from the Bank.

A simple loan on a transparent basis?

Both banks and non-bank institutions have been focusing on the simplicity of offers for several years. The idea is that the customer should not be overwhelmed by bank formulas and terms that are really difficult to understand. The same is true for Bank loans, here also simplicity was focused.

Let’s start with who can apply for such a loan. First of all, it must be an adult, although some companies have raised the age threshold to 20 or 21 years old.

Another criterion is having citizenship and a bank account. This is to check the customer’s credibility. Sometimes Banks ask for a certificate of employment, earnings or other evidence of income. Some of them also check our status in KRD, BIG (Economic Information Bureau) or BIK. Don’t be afraid, our presence in these registers does not automatically reject the loan application. It will be harder but not impossible.

To decide or not?

Bank loans can be incredibly helpful, but we should remember a few important things. First of all, let’s always choose companies that are widely recognized. In the first place let’s put the so-called “power cables”, which usually have a good reputation.

Secondly, remember that loans from Banks are not cheap and in exchange for quick and uncomplicated settlement of the case their interest rate is high.

First of all, let’s always find out what the real cost of the loan is and remember about timely repayment of installments. If we follow the advice mentioned above, everything should be fine.